Crypto Retirement Options Now Available Through Fidelity's New Investment Program

Fidelity Launches Crypto Investment Option for Retirement Plans

Fidelity Investments, one of the largest financial services firms in the US, has announced the launch of a new retirement plan that allows investors to directly invest in cryptocurrency. The move marks a significant milestone in the growing acceptance of digital assets as a legitimate investment option.

Fidelity's new retirement plan, dubbed the Fidelity Crypto Retirement Plan, will enable investors to allocate a portion of their retirement portfolio to a selection of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The plan is designed to provide investors with a new way to diversify their retirement savings and potentially generate returns that are not correlated with traditional asset classes.

The new plan is available to Fidelity's institutional clients, including retirement plan sponsors and their employees. Fidelity has partnered with Coinbase, a leading cryptocurrency exchange, to provide the underlying infrastructure for the plan.

"We are committed to providing our clients with innovative investment options that meet their evolving needs," said Abigail Peman, Fidelity's head of retirement and college savings. "The Fidelity Crypto Retirement Plan is designed to give investors more flexibility and control over their retirement assets, while also providing a new way to potentially generate returns."

The launch of the Fidelity Crypto Retirement Plan comes as institutional investors increasingly turn their attention to digital assets. In recent months, a number of major financial institutions, including Morgan Stanley and Charles Schwab, have announced plans to offer cryptocurrency trading services to their clients.

The new plan is expected to be popular among younger investors, who are more likely to be familiar with cryptocurrency and its potential benefits. According to a recent survey by Fidelity, 28% of millennials (born between 1981 and 1996) are interested in investing in cryptocurrency, compared to just 13% of baby boomers (born between 1946 and 1964).

Fidelity's new retirement plan is the latest example of the growing mainstream acceptance of cryptocurrency. As the asset class continues to evolve and mature, it is likely to play an increasingly important role in the investment portfolios of individual and institutional investors alike.